RBI is also known as ____ bank.

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Detailed Solution

RBI is also known as Banker’s bank.
The Reserve Bank of India is also known as the banker's bank. The Reserve Bank of India is the central bank of the country and it acts as the guardian of all the banks. It is a regulatory body that handles the Indian Banking System. It comes under the Ministry Of Finance and is responsible for issuing the Indian Currency-Rupee. It provides loans and services to the commercial banks of the country. It supervises the formal sources of credit in India. Furthermore, it ensures that all the rules and regulations set up for the protection of consumers are followed by the banks. It also ensures that the banks maintain a minimum amount of liquidity at all times. It controls the rates of interest to keep a check on the economy. If the banks do not follow certain rules and regulations, the RBI has the authority to suspend its license.

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